REG - Vertu Motors PLC - Notification of Directors’ interests

Vertu MotorsAnnouncement

11/03/2020 08:10

RNS Number : 7481F
  
Vertu Motors PLC
  
11 March 2020
  
 

11 March 2020
Vertu Motors plc
(the "Company")
Notification of Directors' interests
 
The Company announces that the Remuneration Committee of the Company approved grants of nil-cost options over ordinary shares of 10p each in the Company ("Ordinary Shares") to persons discharging managerial responsibility in the Company ("Options").  The Options were made under a new Partnership Share Scheme introduced by the Company and are a percentage of target earnings calculated using the Company's share price at the start of the financial year.  The Options were issued on 9 March 2020 as detailed below:  
 



 
 
 
PDMR


Number of Ordinary Shares subject to the Options
 


Resultant number of Ordinary Shares subject to options
 


Beneficial holding of Ordinary Shares excluding options*
 




Ian Harrison


269,716


1,452,047


228,931




Colin Kent


269,716


1,022,047


442,663




Michael Rich


269,716


1,452,047


43,497




Christopher Taylor


255,520


1,187,851


292,241




Jatinder Aujla


269,716


992,047


99,921




Stephen Gould


255,520


1,055,520


7,933




Leon Caruso


255,520


455,520


4,390



 
Vesting of the Options is pro rata to the individual's achievement of a variety of annual bonus targets for the financial year, and vested Options are then subject to a further three-year holding period before they can be exercised.   
The Company's issued share capital consists of 369,173,981 Ordinary Shares with voting rights.  The Company does not hold any Ordinary Shares in treasury.
 
 
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
 



1.       


Details of the person discharging managerial responsibilities/person closely associated




a)       


Name


IAN HARRISON




2.       


Reason for the notification


ISSUE OF OPTIONS




a)     


Position/status


OPERATIONS DIRECTOR




b)       


Initial notification/Amendment


INITIAL NOTIFICATION




3.       


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)     


Name


VERTU MOTORS PLC




b)       


LEI


213800GIKJEIUIGMI575




4.       


Details of transactions(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (vi) each place where transactions have been conducted




a)     


Description of the financial instrument, type of instrument identification code
 
Identification code


ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
 
 
GB00B1GK4645




b)       


Nature of the transaction


ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN




c)       


Price(s) and volume(s)
 



Price


Volume(s)




NIL


269,716








d)       


Aggregated information
 
-Aggregated volume
 
- Price


NOT APPLICABLE - SINGLE TRANSACTION




e)       


Date of the transaction


9 March 2020




f) 


Place of transaction


OUTSIDE A TRADING VENUE



 
 



1.     


Details of the person discharging managerial responsibilities/person closely associated




a)     


Name


COLIN KENT




2.       


Reason for the notification


ISSUE OF OPTIONS




b)       


Position/status


OPERATIONS DIRECTOR




c)       


Initial notification/Amendment


INITIAL NOTIFICATION




3.       


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)     


Name


VERTU MOTORS PLC




b)       


LEI


213800GIKJEIUIGMI575




4.       


Details of transactions(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (vi) each place where transactions have been conducted




a)     


Description of the financial instrument, type of instrument identification code
 
Identification code


ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
 
 
GB00B1GK4645




b)       


Nature of the transaction


ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN




c)       


Price(s) and volume(s)
 



Price


Volume(s)




NIL


269,716








d)       


Aggregated information
 
-Aggregated volume
 
- Price


NOT APPLICABLE - SINGLE TRANSACTION




e)       


Date of the transaction


9 March 2020




f) 


Place of transaction


OUTSIDE A TRADING VENUE



 



1.     


Details of the person discharging managerial responsibilities/person closely associated




a)     


Name


MICHAEL RICH




2.       


Reason for the notification


ISSUE OF OPTIONS




a)     


Position/status


OPERATIONS DIRECTOR




b)       


Initial notification/Amendment


INITIAL NOTIFICATION




3.       


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)     


Name


VERTU MOTORS PLC




b)       


LEI


213800GIKJEIUIGMI575




4.       


Details of transactions(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (vi) each place where transactions have been conducted




a)     


Description of the financial instrument, type of instrument identification code
 
Identification code


ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
 
 
GB00B1GK4645




b)       


Nature of the transaction


ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN




c)       


Price(s) and volume(s)
 



Price


Volume(s)




NIL


269,716








d)       


Aggregated information
 
-Aggregated volume
 
- Price


NOT APPLICABLE - SINGLE TRANSACTION




e)       


Date of the transaction


9 March 2020




f) 


Place of transaction


OUTSIDE A TRADING VENUE



 



1.     


Details of the person discharging managerial responsibilities/person closely associated




a)     


Name


CHRISTOPHER TAYLOR




2.       


Reason for the notification


ISSUE OF OPTIONS




a)     


Position/status


OPERATIONS DIRECTOR




b)       


Initial notification/Amendment


INITIAL NOTIFICATION




3.       


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)     


Name


VERTU MOTORS PLC




b)       


LEI


213800GIKJEIUIGMI575




4.       


Details of transactions(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (vi) each place where transactions have been conducted




a)     


Description of the financial instrument, type of instrument identification code
 
Identification code


ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
 
 
GB00B1GK4645




b)       


Nature of the transaction


ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN




c)       


Price(s) and volume(s)
 



Price


Volume(s)




NIL


255,520








d)       


Aggregated information
 
-Aggregated volume
 
- Price


NOT APPLICABLE - SINGLE TRANSACTION




e)       


Date of the transaction


9 March 2020




f) 


Place of transaction


OUTSIDE A TRADING VENUE



 



1.     


Details of the person discharging managerial responsibilities/person closely associated




a)     


Name


JATINDER AUJLA




2.       


Reason for the notification


ISSUE OF OPTIONS




a)     


Position/status


OPERATIONS DIRECTOR




b)       


Initial notification/Amendment


INITIAL NOTIFICATION




3.       


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)     


Name


VERTU MOTORS PLC




b)       


LEI


213800GIKJEIUIGMI575




4.       


Details of transactions(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (vi) each place where transactions have been conducted




a)     


Description of the financial instrument, type of instrument identification code
 
Identification code


ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
 
 
GB00B1GK4645




b)       


Nature of the transaction


ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN




c)       


Price(s) and volume(s)
 



Price


Volume(s)




NIL


269,716








d)       


Aggregated information
 
-Aggregated volume
 
- Price


NOT APPLICABLE - SINGLE TRANSACTION




e)       


Date of the transaction


9 March 2020




f) 


Place of transaction


OUTSIDE A TRADING VENUE



 



1.     


Details of the person discharging managerial responsibilities/person closely associated




a)     


Name


 STEPHEN GOULD




2.       


Reason for the notification


ISSUE OF OPTIONS




a)     


Position/status


OPERATIONS DIRECTOR




b)       


Initial notification/Amendment


INITIAL NOTIFICATION




3.       


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)     


Name


VERTU MOTORS PLC




b)       


LEI


213800GIKJEIUIGMI575




4.       


Details of transactions(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (vi) each place where transactions have been conducted




a)     


Description of the financial instrument, type of instrument identification code
 
Identification code


ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
 
 
GB00B1GK4645




b)       


Nature of the transaction


ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN




c)       


Price(s) and volume(s)
 



Price


Volume(s)




NIL


255,520








d)       


Aggregated information
 
-Aggregated volume
 
- Price


NOT APPLICABLE - SINGLE TRANSACTION




e)       


Date of the transaction


9 March 2020




f) 


Place of transaction


OUTSIDE A TRADING VENUE



 



1.     


Details of the person discharging managerial responsibilities/person closely associated




a)     


Name


LEON CARUSO




2.       


Reason for the notification


ISSUE OF OPTIONS




a)     


Position/status


OPERATIONS DIRECTOR




b)       


Initial notification/Amendment


INITIAL NOTIFICATION




3.       


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)     


Name


VERTU MOTORS PLC




b)       


LEI


213800GIKJEIUIGMI575




4.       


Details of transactions(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (vi) each place where transactions have been conducted




a)     


Description of the financial instrument, type of instrument identification code
 
Identification code


ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
 
 
GB00B1GK4645




b)       


Nature of the transaction


ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN




c)       


Price(s) and volume(s)
 



Price


Volume(s)




NIL


255,520








d)       


Aggregated information
 
-Aggregated volume
 
- Price


NOT APPLICABLE - SINGLE TRANSACTION




e)       


Date of the transaction


9 March 2020




f) 


Place of transaction


OUTSIDE A TRADING VENUE



 
- Ends -
For further information please contact:
 



Vertu Motors plc

Robert Forrester, CEO

Karen Anderson, CFO


Tel: 0191 491 2111

Tel: 0191 491 2112




 
Zeus Capital Limited

Jamie Peel
Andrew Jones
Dominic King


Tel: 020 3829 5000




 
Camarco
Billy Clegg 
Tom Huddart


Tel: 020 3757 4983



 
 
Notes to Editors
Vertu Motors is the fifth largest automotive retailer in the UK with a network of 133 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell and Macklin Motors brand names.
Vertu Motors was established in November 2006 with the strategy to consolidate the UK motor retail sector.  It is intended that the Group will continue to acquire motor retail operations to grow a scaled dealership group.  The Group's acquisition strategy is supplemented by a focused organic growth strategy to drive operational efficiencies through its national dealership network. The Group currently operates 130 franchised sales outlets and 3 non-franchised sales operations from 110 locations across the UK.
Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust".  
Vertu Motors Group websites - www.vertumotors.com / www.vertucareers.com
Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.vertumercedes-benz.com
 


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